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https://www.wsj.com/articles/brazils-petrobras-to-end-market-friendly-fuel-pricing-92359c48

Brazil’s Petrobras to End Market-Friendly Fuel Pricing

Leftist President da Silva has called for more control of gasoline and diesel prices

By Samantha Pearson
 and Luciana Magalhaes
Petrobras has long found itself at the heart of a debate over the role of the state in Brazil’s economy. Photo: sergio moraes/Reuters

SÃO PAULO—Brazil’s state-controlled oil giant, Petrobras, said it would end its yearslong policy to peg the cost of fuel to international prices, dealing a blow to investors as the leftist government of President Luiz Inácio Lula da Silva looks to control inflation. 

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.